Thursday 28 December 2017

Wall Street Little Changed As Tech Offsets Energy

US stocks were little changed on Wednesday, as gains in the technology sector offset losses in energy and helped keep major indexes nearly flat. The S&P technology index was up 0.1 percent and poised to snap a five-session losing streak, its longest since April, led by gains in Facebook , up 1.0 percent, and Visa , up 0.8 percent.

Trading volumes remained muted in the holiday-shortened week between Christmas and New Year. Trading on Tuesday marked the thinnest volume of the year for a full session.

We don't see the behaviors typical of theme changes so we think this messiness in December is just temporary; the leadership of the year will resume and continue into 2018.

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